@.wealth.with.tom: Your bank account might say $300,000 — but that doesn’t mean all of it is government guaranteed. Australia’s Financial Claims Scheme generally protects up to $250,000 per person, per ADI — not per account and not necessarily per bank brand. That means multiple accounts with the same institution can be combined, and two different-looking banks may actually share the same banking licence. Before spreading large cash balances across banks, check who the underlying ADI actually is. General information only. Check APRA’s Financial Claims Scheme for current coverage. #bank #cash #financialeducation #financialadvisor #economist

Tom Lyon | Financial Advisor

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Friday 21 August 2026 02:07:36 GMT